The mobile advertising industry will grow faster than any other ad channel this year, a big push that comes at a crucial time for the development of the medium. A report by eMarketer projects record-breaking growth in mobile ad spending this year. Mobile ad spending is expected to reach a tenth of total ad spending, landing in third place behind spending for TV ads and desktop/laptop ads.
Reporting on the projections, VentureBeat notes that the growth in mobile advertising, combined with an increase in TV advertising, will drive record growth: “The growth in mobile and TV ads will propel the U.S. market to its biggest increase in a decade — 5.3 percent over last year. This is the first growth spurt of more than 5 percent since 2004, and the total ad market in 2014 will top $180 billion.”
Advertisers will spend 83 percent more on ads for tablets and smartphones this year than they did last year. That increase constitutes an additional $8 billion spent on mobile ads. Digital ad spending will represent almost 30 percent of total U.S. ad spending this year. Digital ad spending is also expected to exceed TV advertising spending within four years. Also within four years, mobile ads will increase from a tenth of ad spending to more than a quarter. Mobile is expected to surpass print by 2016, and in the intervening time, spending on TV, print, radio, directories, and outdoor advertising is projected to stay flat or experience a slight decline.